Business

Solar power price slump casts shadow on India’s green future

by Megha Bahree Agence France-Presse NEW DELHI, India (AFP) — Solar power prices in India have hit rock bottom, but it is not all good news for the electricity-starved country as the phenomenon has hit investor confidence and threatens the country’s effort to push its green credentials. Cut-throat competition has driven prices down to unsustainable levels, undermining the booming sector’s viability, according to experts. After the United States withdrew from the Paris climate deal last week, […]

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Japan economy Q1 growth weaker than thought: govt

TOKYO, Japan (AFP) — Japan’s economy grew less than initially thought in the first quarter, revised government data showed Thursday, but the weaker-than-expected numbers still confirmed the longest expansion in over a decade. The world’s number three economy posted 0.3 percent growth between January and March — or 1.0 percent at an annualized rate — which was down from a preliminary 0.5 percent growth estimate. The unexpected downgrade was also below market expectations for an […]

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Australia’s economy marks record 26 years without recession

SYDNEY, Australia (AFP) — Australia marked a world-record 26 years without a recession Wednesday, as the economy grew 0.3 percent in the first-quarter, official data showed. The Australian Bureau of Statistics put the annual rate of growth at 1.7 percent, down from 2.4 percent in the previous three months. The soft quarterly reading was widely expected by analysts amid the impact of category four Cyclone Debbie on eastern Australia in late March, weaker trade figures […]

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Apple wants to rock the market with HomePod; faces challenges

by Glenn Chapman Agence France Presse SAN FRANCISCO, United States (AFP) — Apple’s new HomePod speaker may be music to the ears of its loyal fans, but how much it can crank up volume in the smart speaker market remains to be heard. Apple unveiled its long-awaited HomePod at its annual developers conference taking place this week in the heart of Silicon Valley, enticing lovers of its products with a high-end offering in a market dominated […]

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Markets falter as investors eye UK election, ECB, Comey

NEW YORK, United States (AFP) — Global stock markets mostly retreated Tuesday, two days before a British general election and congressional testimony from fired former Federal Bureau of Investigation chief James Comey. Britons head to the polls on Thursday, the same day the European Central Bank (ECB) will announce its latest interest rate decision, and Comey will face a congressional panel probing the connection between President Donald Trump’s campaign and Russia. “There has been a clear […]

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Tokyo stocks open lower as automakers, oil shares fall

TOKYO, Japan (AFP) — Tokyo stocks opened slightly lower on Tuesday with energy-linked firms slipping on lower oil prices as a stronger yen put the brakes on automaker shares. The Japanese market has slipped from nearly two-year highs this week while Wall Street retreated from records on Monday. Investors were cautious ahead of the British general election on Thursday, after deadly terror attacks in London. A European Central Bank meeting and testimony by ex-FBI director […]

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Global airlines group expects industry profits to top $30 billion

QUINTANA ROO, Mexico (Reuters) — The heads of global airlines are meeting in Cancun, Mexico for the general meeting of the International Air Transport Association (IATA), with the aviation body predicting robust earnings for the sector. Forecasting a third straight year of robust earnings, IATA raised its 2017 industry profit outlook on Monday (June 05) to $31.4 billion dollars, up from a previous forecast of $29.8 billion dollars. The IATA also raised its outlook for […]

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World Bank sees improving global economy but risks remain

WASHINGTON, United States (AFP) — The global economy is set to post solid growth this year, amid improving world trade and better performance by large emerging markets, but key risks could still threaten the outlook, the World Bank said Sunday. Rising trade protectionism and policy uncertainty, primarily in the United States under President Donald Trump, pose important cautions for the outlook. For the first time in four years, the latest edition of the World Bank’s […]

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Tokyo stocks opens down as yen remains firm

TOKYO, Japan (AFP) — Tokyo shares opened slightly down Monday as the yen remained stronger after a lackluster United States jobs report late Friday and the London attack escalated political uncertainties. The dollar fetched 110.39 yen in early Asian trade, down modestly from 110.44 yen late Friday in New York, as weak US jobs data weighed on US Treasury yields. “The numbers were solid enough to keep the Fed on track for a June hike, […]

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Tokyo’s Nikkei index sitting above 20,000 mark at the break

TOKYO, Japan (AFP) — Tokyo’s benchmark Nikkei 225 index ended above the 20,000 level on Friday morning, topping the psychologically important mark for the first time in a year and half after a record close on Wall Street. The Nikkei jumped 1.41 percent, or 279.28 points, to 20,139.31 by the lunch break, the first time it crossed 20,000 since December 2015. Tokyo’s broader Topix index of all first-section shares gained 1.25 percent, or 19.87 points, […]

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Eyeing growth boost, Kenya opens Chinese-built railway

by Raphael Ambasu MOMBASA, Kenya (AFP) — Kenya’s President Uhuru Kenyatta on Wednesday inaugurated a Chinese-built railway, the country’s biggest infrastructure project since its independence. The boxy red-and-white diesel train left from a gleaming new terminal in the port city of Mombasa, carrying Kenyatta, Chinese dignitaries and citizens from around the country on its maiden journey to Nairobi. The five-hour journey will take less than half the time to drive between the two cities, a […]

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Tokyo shares open lower after Wall Street slips

TOKYO, Japan (AFP) — Tokyo shares opened lower Wednesday as a firm yen weighed on exporters and Wall Street and crude prices slipped. The benchmark Nikkei 225 index fell 0.25 percent, or 49.60 points, to 19,628.25 in early trade while the Topix index of all first-section issues lost 0.28 percent, or 4.33 points, to 1,568.34. © Agence France-Presse

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